Magna International Inc. Receives Consensus Rating of “Hold” from Brokerages

Magna International Inc. (NYSE:MGA) Receives Consensus Rating of “Hold” from Brokerages

Magna International Inc. stock falls Tuesday, underperforms market

Magna International (NYSE:MGA) Price Target Lowered to $62.00 at Bank of America

Magna International Inc. has received an average rating of 'Hold' from 18 brokerage firms, with 12 analysts recommending a hold and 6 a buy. The average 12-month target price is set at $54.24. Several firms, including TD Securities and BMO Capital Markets, have adjusted their price targets downward, reflecting a cautious outlook. Additionally, Magna reported an EPS of $1.08 for the quarter, missing the consensus estimate of $1.26, while maintaining a revenue of $10.97 billion. The company also announced a quarterly dividend of $0.475, yielding 4.34%.

Magna International Inc.

Magna International Inc. Stock Falls, Underperforming Market

On July 23, Magna International Inc. stock fell by 1.49% to C$60.34, underperforming the Canadian market, which saw a slight decline of 0.26%. The stock is currently C$26.66 below its 52-week high of C$87.00. Trading volume was recorded at 804,032 shares, which is below the 50-day average of 1.4 million shares, indicating reduced investor interest.

Magna International Given New $55.00 Price Target at BMO Capital Markets

Magna International (NYSE:MGA) Given New $55.00 Price Target at BMO Capital Markets

BMO Capital Markets has lowered the target price for Magna International's stock from $60.00 to $55.00. This follows similar reductions from other financial institutions, including National Bankshares and Scotiabank, which have also adjusted their price objectives downward. Currently, Magna International has a consensus rating of 'Hold' and an average price target of $54.24, with its stock trading at $44.56, significantly below its 52-week high of $65.27. The company has a market capitalization of $12.80 billion and recently announced a quarterly dividend.

Apple Explores Partnership with Magna International for Autonomous Vehicle

Apple car updates – Possible features?

Apple is advancing its 'Project Titan' to develop an autonomous vehicle and is exploring partnerships with Magna International for powertrain solutions. This collaboration could position Magna as a key player in Apple's ambitious plans to release a new car in the next three to six years, which is anticipated to be a significant product for the company.

Magna International Inc. Stock Rises Monday, Outperforms Market

Magna International Inc. stock rises Monday, outperforms market

On July 22, 2024, Magna International Inc. saw its stock price increase by 2.13%, closing at C$61.25, which was a positive performance compared to the broader market. Despite this rise, the stock remains C$25.75 below its 52-week high of C$87.00. The trading volume also exceeded the 50-day average, indicating increased investor interest.

JPMorgan Chase & Co. Cuts Magna International Price Target to $63.00

JPMorgan Chase & Co. Cuts Magna International (NYSE:MGA) Price Target to $63.00

Multiple financial institutions have lowered their price targets for Magna International Inc. on July 22, 2024, with JPMorgan reducing its target from $69.00 to $63.00. Other firms like Scotiabank and Morgan Stanley also adjusted their targets downward. The company reported earnings per share of $1.08, falling short of the consensus estimate of $1.26, despite a 2.8% increase in revenue compared to the previous year.

Magna International Shareholders Experience Negative Returns Over Three Years

The past three years for Magna International (TSE:MG) investors has not been profitable

Shareholders of Magna International Inc. have faced a significant decline of 42% in share price over the past three years, contrasting sharply with a 23% market return. The company's earnings per share also fell by 1.7% annually during this period. Despite dividend payments, the total shareholder return was -36%, highlighting a challenging investment environment.

Magna International Inc. is a leading global automotive supplier that drives innovation in electrification, mobility solutions, and beyond. With a highly integrated approach, Magna offers state-of-the-art engineering methods and highly automated production processes, creating full-system solutions to help shape the future of the automotive industry. The company is guided by core values of thinking big, taking responsibility, never settling, and being collaborative, and it invests in its employees through development programs and skills training.

Magna International Inc. designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. The Body Exteriors & Structures segment provides body and chassis, exterior, and roof systems, as well as battery enclosures and engineering and testing services, including fascia and trims, front end modules, front integration panels, liftgate modules, active aerodynamics, engineered glass, running boards, truck bed access products, and side doors. The Power & Vision segment offers hybrid and electric drive systems, motors, inverters, onboard chargers, and e-clutch; dedicated hybrid, dual and hybrid dual, and manual transmissions; AWD/4WD products and rear drive modules; transmission, engine, driveline components, engine drive plates, and accessories; engineering services; advanced driver assistance systems and sensors, and electronic control units; interior and exterior mirrors, camera and driver monitoring systems and electronics, actuators, door handles, and overhead consoles; forward, rear, and auxiliary lighting products; latching, door modules, window, power closure, and hinges and wire forming systems; and modular and textile folding roofs, and hard and soft tops. The Seating Systems segment provides seat structures, mechanism and hardware solutions, and foam and trim products. The Complete Vehicles segment offers vehicle engineering and manufacturing services. The company also designs, engineers, and manufactures tooling products. Magna International Inc. was founded in 1957 and is headquartered in Aurora, Canada.

COM:MAGNA

Magna International Inc.

Last Close

61.64

22/11 21:00

Market Cap

17.05B

Beta: -

Volume Today

894.44K

Avg: -

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